GrandVision Starts Arbitration Against EssilorLuxottica
30 Juillet 2020 - 9:21AM
Dow Jones News
By Adria Calatayud
Grandvision NV said Thursday that it has started arbitration
proceedings against EssilorLuxottica SA, after the Franco-Italian
optical giant sued the Dutch eyewear group earlier this month.
EssilorLuxottica, which last year agreed to buy GrandVision,
said on July 18 that it filed proceedings before a district court
in Rotterdam, Netherlands, to obtain information over the way the
Dutch company has managed its business during the coronavirus
crisis and to assess the extent to which it had breached its
obligations under a support agreement between the two parties.
GrandVision on Thursday said it strongly disagrees with
EssilorLuxottica's claims and reiterated that it isn't in material
breach of the support agreement. The Dutch company said its
arbitration case seeks to ensure that EssilorLuxottica complies
with its obligations under the support agreement, in particular
regarding merger clearance processes.
GrandVision said it continues to support EssilorLuxottica with
the shared objective to obtain regulatory approval for the closure
of the transaction.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 30, 2020 03:06 ET (07:06 GMT)
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